Nov 24, 2021 07:10
It's your data and you have full right to it! The statement has failed to live up to its expectation in an open finance model. Users' banking data get shared with third-party APIs. Well, the justification given is to personalize the user experience. In spite of this, data found have benefitted the corporations. A report states that digital payment will reach $726 billion by 2020. Or, roughly 2 billion transactions will happen on a daily basis. Such huge chunks of data sitting like a duck waiting for the raid jeopardize the user’s interest. Thus making the segment ripe for innovation. For the betterment, Oasis Network has brought that!
What is Oasis Network?
Oasis Network is a privacy-enabled smart contract platform heralding data privacy. This ecosystem makes user data confidential in open finance. Hence, users have full control over their data and they can customize the nature of its use. In a way, Oasis Network brings better data sovereignty in open finance. Users can claim benefits when their data gets shared with third parties. To execute this, the Oasis protocol functions in two layers. The first layer is the consensus layer separated by a contract execution layer. Both these layers function without obstructing each other. Hence, providing complete anonymity to users opting for Open Finance.
Oasis Network was Set To Explode!
At the time of writing, the Oasis Network jumped from $0.28 to $0.41. There's a 13% increase in 24 hours and roughly 100% increase in the last 7 days. On CoinMarketCap, Oasis occupies 136th position and this token could rise further. At the moment, there's a discussion on further updating the protocol. On the basis of the last updates, the token is set to explode this time as well.
The above graph shows the formation of the cup and handles pattern. At this point, tokens consolidate but breakout follows at the upper trend line. Generally, that's the point where resistance breaks. As you can see that at the $.35 level, there's an overbought situation forming as shown in the image below.
However, it has subsided to 0.3 level of the trend line. At the 0.35 level, Rose has an overbought position. Here, there's a steady chance of traders booking profits. Hence, as a trader, you must trade with caution after looking at the charts.
In Simple Moving Average and Exponential Moving Average, Rose shows a bullish trend. These developments show that Rose might aim for the $.68 level forming the resistance zone. If it can break past that, it could reach $1.5 by 2022.
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